COTY Stock Price Pops as Company Explores CoverGirl Sale or Spin-Off
Coty Inc. (COTY) shares edged higher after the cosmetics giant announced a strategic review of its CoverGirl and other mass-market beauty brands. The company said it is exploring options, including a potential sale or spinoff. Coty has appointed Citi as its advisor to guide the strategic review. Following the announcement, COTY stock gained 1.75% in pre-market on Tuesday.
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Coty is known for its diverse portfolio of fragrance, cosmetics, and skincare brands. Meanwhile, CoverGirl is among the world’s most well-known mass-market makeup brands,…
